Union Bank of India is embroiled in a major controversy. As per a report by Z Business, a senior official of Union Bank of India has written a letter to the Reserve Bank of India (RBI) and complained about the ‘window dressing‘ method followed by the Bank to inflate its Balance Sheet.
According to the complaint, the bank’s CASA balances increased by about ₹31,000 crore in the last days of FY26. This rise in CASA happened between March 28 and March 31. The letter alleges that soon after 31 March, the balances reportedly fell. By April 2, CASA deposits dropped by around ₹12,000 crore. This sharp fall has raised concerns. This shows that the numbers were inflated in the final days before closing to present a good balance sheet.
An RTI was filed to obtain the exact business numbers for the 20 days before and after the closing date, i.e., 31 March 2026. The RTI request was filed to know the following business parameters as on 10 March 2026 and 20 April 2026: Total Business, Global Deposits, CASA, CASA (%), CD Ratio (%), Retail, Agriculture, MSME, RAM Advances, Gross Advances.
The bank said that the information is not available in the form requested. Further, the collection and collation of such data would disproportionately divert the resources of the Bank.
As per reports, the first appeal has been filed, and the details will be shared accordingly. Stay connected with Hellobanker to get updates.
